Sviatlana Zyhmantovich/iStock via Getty Images The major market averages rallied for a second week in a row, making it look more like the pullback that ensued in early April from fears over higher-for-longer interest rates has concluded. Corporate profits for the first quarter limited the drawdown, as earnings are now exceeding estimates, and the contribution…
An announcement was put out today by the Justice Department that Keonne Rodriguez and William Hill had been arrested and charged with operating Samourai Wallet, “an unlicensed money transmitting business” that executed “unlawful transactions.” Fuck the Justice department, full stop. At no point did Samourai custody user funds, have control over user funds, and ESPECIALLY…
Alexandros Michailidis Investment thesis My previous bullish thesis about Pfizer Inc. (NYSE:PFE) from October 2023 did not age well, as the stock delivered a -10% total return over the last half-year, substantially lagging behind the broader market. Despite it, today I want to reiterate my bullish thesis because recent developments suggest that the business continues…
Justin Sullivan I have been neutral to bearish on Microsoft (NASDAQ:MSFT) for nearly a year, largely on the basis of valuation. I am now of the view that this stance was mistaken. It is always possible that my change of heart is a symptom of the continually rising tech sector, but I find it equally…
Anna Moneymaker/Getty Images News The FOMC meeting this week surprised many when it was revealed that the Fed still intended to cut rates three times in 2024. It seemed that given the back-to-back, hotter CPI inflation report to start the year and rising inflation expectations, the Fed would begin to push back against the easing…
JHVEPhoto I Was Wrong About Supermicro To say that I was wrong about my cautious thesis on Super Micro Computer, Inc. (NASDAQ:SMCI) in early December 2023 is an understatement. SMCI buyers tossed aside my Hold rating as the leading data center rack solutions provider provided a significant upgrade to its outlook at Supermicro’s fiscal second-quarter…
JHVEPhoto I’ve underestimated biopharma company AbbVie Inc.’s (NYSE:ABBV) ability to overcome the near- and medium-term headwinds from Humira’s LOE. I assessed that the risk/reward of ABBV was well-balanced in my previous update in late November 2023. However, that Hold/Neutral thesis has proved to be too cautious. I had anticipated selling pressure to intensify, potentially leading…
NurPhoto/NurPhoto via Getty Images PayPal Holdings, Inc. (NASDAQ:PYPL) continues to be a huge disappointment for investors. Following earnings last week, the stock declined as much as 11.5% the next trading day and although it recovered a bit on Friday, the stock is once again close to the multi-year lows of $50. Right now, PayPal is…
sruilk/iStock via Getty Images Investment Overview Arcutis (NASDAQ:ARQT) IPO’d back in January 2020, raising ~$160m via the issuance of 9.375m shares priced at $17 per share. At the time, the company described itself as follows: a late-stage biopharmaceutical company focused on developing and commercializing treatments for unmet needs in immune-mediated dermatological diseases and conditions, or…
Ralf Hahn/iStock via Getty Images Background Several events since 2020 altered Blackbaud’s (NASDAQ:BLKB) future, including a security breach, a significant acquisition of EVERFI in 2021, and a monumental business change in 2023, all discussed in detail below. The security breach’s temporary costs are winding down while the business is inflecting positively due to pricing initiatives….
JHVEPhoto I criticized the stock buyback of Chevron Corporation (NYSE:CVX) last year as I saw a risk that the commodity company could overpay for its stock in the open market at a time when crude oil prices were still relatively high. I was also deeply concerned about the potential for an earnings recession during a…
KE ZHUANG Is there a more beaten-down growth stock than SolarEdge (SEDG)? 2023 saw tech stocks across the board recover much of their losses suffered in 2022. SEDG appears to be experiencing a delayed reaction, with its stock undergoing the same valuation reset that tech stocks experienced during the crash. There are a lot of…
Rawf8 If the title of this article appears to be hinting that we are turning bearish on U.S. equities, we apologise for baiting the bears. Not only have we taken advantage of the market bottom in October 2022 to overweight U.S. equities and aggressively load up on deeply discounted names that have outperformed meaningfully since,…
xavierarnau Investment Thesis GigaCloud Technology (NASDAQ:GCT) operates a global business-to-business marketplace, connecting buyers and sellers for big and bulky products. Leveraging innovative technology and recent strategic acquisitions, such as Noble House, GigaCloud facilitates seamless transactions, enhances supply chain capabilities, and aims to revolutionize the way businesses engage in cross-border commerce. The business has a short…
tadamichi/iStock via Getty Images Against my expectations from last year, business development company Bain Capital Specialty Finance, Inc. (NYSE:BCSF) performed better than expected, which has led to the BDC’s stock sell for a lower discount to net asset value. The business development company profits from higher net investment income and debt yields in a rising-rate…
Jim Cramer gave a sell call on Bitcoin last December when it was trading at $17,500. Cramer admits that he was wrong on his predictions as the BTC price surged 100% since then. Market commentator Jim Cramer has implicitly acknowledged his earlier misjudgment regarding Bitcoin, stating that he was premature in advising investors to sell…
Wirestock/iStock Editorial via Getty Images I recently published a bearish article on Warner Bros. Discovery (NASDAQ:WBD), “WBD.” However, after additional analysis, I admit I was wrong. My conclusion was hasty. Instead of focusing on WBD’s free cash flow, I focused more on its higher-than-expected losses. However, much of the new company’s losses are due to…
Daniel Grizelj Hims & Hers Health, Inc. (NYSE:HIMS) has been on my personal radar pretty much since its market debut via SPAC in 2020, but I never actually decided to really dig deeper into the business and thus to ever initiate a position. Too much was going on at the time, too many SPACs were…
Shinobi’s Strawman is a weekly series where our Technical Editor Shinobi challenges the Bitcoin community, aiming to stir up conversation around heated technical debates. ______________________________________________________________ We are going to try something of an experiment today. Drivechains are being proclaimed by some as the savior of Bitcoin, the answer to all of its problems. It solves…
JHVEPhoto AbbVie Inc. (NYSE:ABBV) investors breathed a sigh of relief as ABBV has recovered remarkably from its June 2023 lows despite posting a prelim-Q2 earnings release in early July that likely spooked some investors. However, ABBV dip buyers held those lows robustly, demonstrating to unconvinced investors that the market had already priced in significant pessimism….
alexsl The MPW Investment Thesis Has Lost Its Bullish Support Here We previously covered Medical Properties Trust (NYSE:MPW) in May 2023, discussing the short sellers attack by Viceroy Research. The report had caused its stock prices to drastically decline, thanks to the allegation that the REIT “buys assets at inflated prices from tenants.” At that…
Dubbed the Digital Energy Council (DEC), the team is in Washington DC and was established on the 15th of August. The US crypto mining sector has created a lobby group targeted at dispelling misconceptions about its sustainability. Majorly, the DEC wants to address the misbelief about its sustainability with policymakers. The US government has kept…